CHICAGO — Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd., today announced record revenues of $1.97 billion for the fiscal year ended July 31, 2021.
“In a changing and uncertain environment, we continue to remain agile and perform with excellence across our entire firm, including our services lines, industry groups and internal services teams,” said Brad Preber, CEO of Grant Thornton. “We’ve combined flexibility and innovation with quality and value to realize record revenues. Because of this approach, we’re well-positioned for continued growth.”
Grant Thornton took unprecedented steps in FY 2021 to help its professionals balance work and family needs. The firm provided professionals with a range of carefully designed benefits in areas such as psychological wellness, childcare, home meal preparation and tutoring, while also rolling out a ‘return-to-work’ hybrid workplace model that provides the firm’s professionals with the autonomy and flexibility they have come to embrace during the COVID-19 pandemic.
“We have learned that with the right support, our people can serve our clients with excellence from anywhere,” added Preber. “Our teammates have different comfort levels with returning to face-to-face interactions, different needs for in-person contact and different family responsibilities. This is why we created a policy that delivers exceptional results for clients without requiring attendance in our offices or at client sites for many business situations.”
Innovation and quality at the forefront
The firm used its alyx digital transformation platform to develop technologies that help clients in areas ranging from controls test automation to SOC reporting to tax compliance. The firm’s innovation efforts and leadership garnered it five Stevie® Awards in the 19th Annual American Business Awards® competition — making it one of only a handful of organizations to win five or more awards this year. In addition, Grant Thornton received a patent from the U.S. Patent and Trademark Office for innovations related to the firm’s controls-test automation app, cta.x.
Grant Thornton also established a Center of Excellence in Orlando, Florida to enhance offerings nationwide, including unique services that help tax clients turn data into insights.
All the while, the firm remained focused on quality: The Public Company Accounting Oversight Board’s annual inspection reports have consistently placed Grant Thornton’s audit quality measures among the leaders in the industry.
In addition, Grant Thornton and its professionals delivered insights to help clients overcome the unprecedented challenges of the COVID-19 pandemic, from finance and technology to operations and compliance, as well as strategy, cybersecurity and workforce management. For example, Grant Thornton’s chief economist, Diane Swonk, frequently issued reports and appeared in the news media to help companies understand the economic shifts throughout the year. And research such as Grant Thornton’s chief financial officer survey series helped companies understand the ‘war for talent,’ cybersecurity and changing government policies, as well as other common challenges.
Committing to equality, community and sustainability
In FY 2021, Grant Thornton continued to support its many commitments and policy changes focused on social justice and equality, including a pledge to donate $300,000 over three years to the Southern Poverty Law Center and $300,000 over three years to the Thurgood Marshall College Fund. Grant Thornton also published its first-ever annual DE&I report, detailing its efforts to build a more diverse workforce.
In addition, Grant Thornton continued its Purple Paladins initiative — a program that helps emerging nonprofit organizations move from start-up to growth and sustainability. Throughout FY 2021, Grant Thornton named four new nonprofits to the program: Weird Enough Productions, Hope in a Box, Foster Nation and Find Your Anchor.
Further, Grant Thornton committed to reducing its carbon footprint by 55% by 2030 and produced its second annual in-depth analysis of the firm’s progress on enterprise sustainability and growth.
Grant Thornton was also named to Working Mother magazine’s 2020 100 Best Companies and Best Companies for Dads lists. The firm was additionally named one of the 2020+ Top Companies for Executive Women by Working Mother Media — and received a score of 100% on the Human Rights Campaign Foundation’s 2021 Corporate Equality Index.
New leaders in key posts
In FY 2021, Grant Thornton named key new leaders, including Janet Malzone as the firm’s national managing partner of Audit Services and Jeff Hughes as the national managing partner for Audit Quality and Risk. The firm also named Beatrix Bernauer as its chief risk and compliance officer, while appointing Partho Ghatak as its chief information security officer. In addition, the firm named Rashada Whitehead as its national managing director of Culture, Immersion & Inclusion.
Just after FY 2021 wrapped, Grant Thornton’s Partnership Board also named Seth Siegel as the firm’s CEO-elect. His term as CEO will begin on August 1, 2022, immediately following current CEO Brad Preber’s mandatory retirement after almost two decades in leadership roles at the firm.
Preber summed up FY 2021 this way: “Over the last year, we have proven that Grant Thornton is a firm that is ready — ready to build strong relationships with our clients, colleagues and communities; ready to help solve problems and deliver value and quality; and ready to go beyond expectations to build confidence into every result for all those we serve.”
About Grant Thornton LLP